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ISTANBUL, Oct 31: Turkey’s September trade deficit narrowed seven per cent from a year earlier to $5.042 billion, the national statistics office said on Friday.September exports rose 42 per cent year-on-year to $12.831 billion, while imports climbed 23.6 per cent to $17.873 billion, resulting in a trade deficit that was smaller than the $6.1 billion expected by economists.
The trade deficit for the first nine months of the year widened to $58.169 billion, 28.3 per cent higher than the same period in 2007.
A large trade deficit is a big concern for Turkey’s economy since it leads to a wide current account deficit and financing requirement.—Reuters
